Page 67 - Companies

Godrej & Boyce bags orders worth Rs 2,000 crore in solar segment

Godrej & Boyce unit Godrej Electricals & Electronics has bagged order worth Rs 2,000 crore from power transmission, railways and solar projects. "The Power Infrastructure and Renewable Energy (PIRE) business of Godrej Electricals & Electronics, a business unit of Godrej & Boyce Mfg. Co. Ltd, has secured orders worth over Rs 2,000 crore from Power Transmission, Railways, and Solar Projects," a company statement said. The projects include EPC (engineering procurement construction) for EHV substations of 400kV & 765kV across India, a GIS substation with 220kV underground cable in Mumbai and a 132kV substation project in Nepal, it stated. In the solar segment, the company has secured an order for a ground-mounted solar plant of 20MW in West Bengal. The order supports the business' aim to grow its solar EPC portfolio by 30 per cent annually over the next three years and promote energy conservation, it said. The business marks its entry into railway electrification with

Chemplast Sanmar unit signs deal to manufacture advanced intermediate

Company estimates commercial supplies will start from the fourth quarter of 2023-24

Disney+ loses 4 million subscribers as fresh layoff round approaches

Entertainment giant The Walt Disney Company's flagship streaming service Disney+ lost four million subscribers in its second quarter that ended April 1

Indian firms invested $6.6 bn in Canada creating thousands of jobs: Report

Indian companies have invested more than CAD 6.6 billion in Canada creating tens and thousands of jobs in the country, with all of them planning to invest more in the future, according to a CII report released in Toronto. The report 'From India to Canada: Economic Impact and Engagement' launched by Union Commerce and Industry Minister Piyush Goyal during his visit to the city is the first known attempt to capture Indian Industry's growing Canadian presence. The report highlights the contributions made by Indian companies to the Canadian economy in the form of FDI, jobs created and saved, and funding for research and development as well as local corporate social responsibility initiatives. "Canada has a large investible surplus and is looking for good investment opportunities in India. Given the greater degree of engagement we've now embarked upon with high-level exchanges on both sides, the India-Canada economic relationship can improve very significantly," Goyal said at the report

NCLT admits Go First's insolvency plea, puts it under moratorium

Order prevents a viable airline from becoming an unviable one, says airline's CEO

LatentView Analytics reports profit after tax at Rs 342 mn in March quarter

Global digital analytics consulting and solutions firm LatentView Analytics Ltd has reported a profit after tax (PAT) at Rs 342 million for the quarter ending March 31, 2023, the company said on Tuesday. For the year ending March 31, 2023 the PAT grew to Rs 1,554 million, the company said. Operating revenues during the quarter under review grew by 20.1 per cent to Rs 1,411 million while for the year ending March 31, 2023 it stood at Rs 5,388 million. The Profit After Tax for FY22 includes exceptional item of Rs 226 million. Excluding exceptional item FY23 profit after tax at 45.4 per cent, the company said. Commenting on the financial performance, LatentView Analytics Chief Executive Officer Rajan Sethuraman said, "we are pleased to report the highest ever full-year revenue and profit margins in the history of our company." "Our revenue grew at 32 per cent on year-on-year basis for FY23. The growth was broad-based across technology, financial services.." he said. "As we move forw

Castrol India posts 11.3% fall in Q1 profit on rising input costs

Revenue from operations increased 4.7% to 13.12 billion rupees, but that was not enough to offset the 8.9% rise in total expenses to 10.23 billion rupees

Raymond Q4 results: Consolidated net profit falls 26% to Rs 194 crore

Raymond Q4 results: In 2022-23 (FY23) the net profit more than doubled to Rs 529 crore from Rs 260 crore in FY22

Launch blueprint, rural gains can help Hero MotoCorp turn the corner

Lower raw material costs aided margin recovery for the 2-wheeler sector in Q4

Very poor messaging: Buffett criticises US govt handling of banking crisis

Warren Buffet expresses his displeasure at the "very poor messaging" by the US government with regard to the ongoing regional banking crisis

Accenture India chief Rekha Menon to retire; Role split between two

Sandeep Dutta to lead professional services company's India Market Unit

Meesho lays off 251 employees, CEO admits 'judgement errors in over-hiring'

SoftBank-backed e-commerce firing 15% of workforce, cites 'harsh circumstances'

Shopify to lay off 20% of workforce in 2nd round, revenue tops expectations

The company also reported better-than-expected results for the first quarter, as more merchants used its online tools and targeting services to attract customers tackling high inflation

Cognizant rejig to cost $400 mn over 2 years, to lay off 3,500 employees

The company's bookings for the quarter stood at $25.6 billion on a trailing 12-month basis, up from $24.1 billion in the fourth quarter (Q4) of 2022

Cognizant to lay off 3,500 employees in 2023 amid declining revenue

In the quarter ended March 31, the company reported a margin of 14.6%, among the lowest in the industry

50% of firms fell victim to ransomware attacks in 2022, shows report

The survey was conducted among 569 cybersecurity leaders from 31 different locations around the world, including the US, UK, France, India, and Japan, among others

MRF Q4 net profit up 86%, tyre maker announces dividend of Rs 169 apiece

Its consolidated revenue from operations rose 10 per cent to Rs 5,841.7 crore in Q4FY23

Hindenburg targets Icahn Enterprises, claims IEP shares overvalued

Hindenburg targets Icahn Enterprises after dropping a significant amount of Adani Group shares. In response to that, Icahn rejects Hindenburg's claim and called the report self-serving

Wadia Group not exiting; some people have shown interest in Go First: CEO

On Tuesday, Go First filed for bankruptcy with the National Company Law Tribunal, blaming Pratt & Whitney engines for the grounding of about half its fleet

From Adani Wilmar to Havells India: Q4 results to watch out for today

Q4 results: Godrej Properties, Reliance Power, Bajaj Consumer, Chola Investment, JK Agri Genetic, Petronet LNG, Sula Vineyards, Sonata, and Tata Chemicals will also announce their results today